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 Post subject: January 7th Thursday Trade Results - Profit $8437.50
PostPosted: Fri Jan 08, 2016 4:08 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $8437.50 dollars or +168.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $8437.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=152&t=2261

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=282&t=3016 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets


4:25 pm: [BRIEFING.COM] The stock market ended the Thursday affair broadly lower after a volatile start to the trading day. The sharply lower start to the day was brought on by renewed global growth concerns and worries about incoming deflationary pressures. A sharp decline in oil prices underscored these market concerns. The tech-heavy Nasdaq (-3.0%) trailed the S&P 500 (-2.4%) and the Dow Jones Industrial Average (-2.3%).

Global equity markets were focused on action in China, where the CSI 300 Index tumbled 6.9%, ending its day a mere 45 minutes after the opening bell. The index declined 5.0% before prompting a 15 minute halt. This stay was unable to quell selling pressure and once trading was resumed, the index surrendered a further 1.9% before endings its day early, with a loss of 6.9%.

News of this decline worked to temper trading in other regional and international indices, pressuring oil throughout the night. Oil traded under the $34.00/bbl level but rallied into the U.S. open, which fostered a brief rebound in equities; however, stocks tumbled to new lows in the early afternoon after Reuters reported that the People's Bank of China is likely to continue devaluing the yuan by as much as 15.0%. WTI crude would eventually back away from its flat line, sliding lower by 2.1% to $33.27/bbl by the end of its pit session.

On the leaderboard, technology (-3.1%), financials (-2.8%), industrials (-2.8%), materials (-2.7%), and energy (-2.4%) lead the downside while utilities (-0.7%), telecom services (-1.3%), consumer staples (-1.3%), and consumer discretionary (-2.0%) outperformed.

In the industrial sector, the Dow Jones Transportation Average fell 3.0% with all of its components ending in negative territory. Airlines saw some of the steepest losses with United Continental Holdings (UAL 52.63,-2.57) and Delta Airlines (DAL 46.00, -1.93) surrendering 4.7% and 3.8%, respectively. Elsewhere in the index, FedEx (FDX 134.59, -6.18) outpaced the losses, falling 4.4%

In technology, the top-weighted sector was subject to heavy selling in big names and influential components like Apple (AAPL 96.45, -4.25), Microsoft (MSFT 52.17, -1.88), and Facebook (FB 97.92, -5.05). The three stocks ended with losses between 3.2% and 4.9%. Meanwhile, the high-beta chipmakers remained under heavy pressure evidenced by a 2.9% decline in the PHLX Semiconductor Index.

Elsewhere, the economically-sensitive financial sector had a rough outing, as exposure to Chinese currency devaluation and emerging markets holdings pushed the group to the bottom of the leaderboard. JPMorgan Chase (JPM 60.27, -2.54), Bank of America (BAC 15.50, -0.58), and Wells Fargo (WFC 50.40, -1.48) surrendered between 2.9% and 4.0%.

Moving to Treasuries, the benchmark note registered a slim gain after climbing off its intraday low. As a result, the 10-yr yield ticked down two basis points to 2.15%.

Once again, investor participation was above average as 1.1 billion shares changed hands on the floor of the NYSE.

Today's economic data included, Initial claims for the week ending January 2nd which decreased by 10,000 to 277,000. This was above the Briefing.com consensus estimate of 270,000 but within the 250,000 to 300,000 range that has persisted since July 2014. The prior week's claims level was unrevised. Continuing claims for the week ending December 26 were 2.230 million, an increase of 25,000 from the previous week's revised level of 2.205 million (from 2.198 million).

Tomorrow, the December nonfarm payrolls report (Briefing.com consensus 200k) will be released at 8:30 ET. While November wholesale inventories (Briefing.com consensus -0.1%) and November consumer credit (Briefing.com consensus $18.50 billion) will be reported at 10:00 ET and 15:00 ET, respectively.

Nasdaq -6.4% YTD
Russell 2000 -6.2% YTD
Dow Jones Industrial Average -5.2% YTD
S&P 500 -4.9% YTD

3:40 pm: [BRIEFING.COM]

Select commodities took a hit today as notable weakness from China hit the markets again today
WTI was the big story today after oil fell below the low seen during the last recession... $33.20/barrel
Feb WTI crude oil fell as low as $32.10/barrel,but closed out the day -2% at $33.29/barrel
Natural gas got a real boost today from the weekly EIA storage data, which showed a larger-than-expected draw
Feb nat gas ended today's session +5% at $2.38/MMBtu
Precious metals climbed nicely higher today
Feb gold rose +16% to $1107.90/oz, while Mar silver gained $0.36 to $14.34/oz

3:00 pm:

[BRIEFING.COM] As the stock market enters its last hour of trading, the major indices trade above their session lows but remain in the lower half of their trading ranges. The Dow Jones Industrial Average (-2.0%) and the S&P 500 (-2.0%) lead the Nasdaq (-2.4%). Including today's performance the tech-heavy Nasdaq has surrendered 5.8% so far in 2016.

In front of the pack, countercylicals like telecom services (-0.7%), utilities (-0.7%), and consumer staples (-1.1%) lead. The only countercyclical sector not on the top of the board is health care (-1.8%). On the flipside, technology (-2.5%), materials (-2.5%), financials (-2.5%), and industrials (-2.4%) trail.

In the health care space, biotechnology continues to weigh on the broader sector evidenced by the iShares Nasdaq Biotechnology ETF (IBB 310.50, -10.62) declining 3.4%.

Switching to the materials sector (-2.5%), sector large-caps DuPont (DD 61.29, -2.09) and Dow Chemical (DOW 46.46, -2.00) outpace the losses in the sector with declines of 3.3% and 4.1% respectively.

In currencies, the U.S. Dollar Index has slid throughout the afternoon and now trades lower by 1.0% at 98.23.

Meanwhile in Treasuries, the benchmark note trades near its high with yield on the 10-yr lower by two basis points at 2.15%.

2:30 pm:

[BRIEFING.COM] Equity indices hover near their session lows with the tech-heavy Nasdaq (-2.9%) trailing the S&P 500 (-2.3%).

Sector standing has not changed much with technology (-2.9%), materials (-2.7%), and financials (-2.6%) rounding out the leaderboard while utilities (-0.7%), telecom services (-1.0%), and consumer staples (-1.3%) lead the pack.

Interesting to note, while consumer staples is one of the best performers of the day, this can be attributed to three companies Constellation Brands (STZ 149.70, +6.58), Wal-Mart (WMT 64.79, +1.24), and Walgreens Boots Alliance (WBA 81.86, +2.23). The three companies have advanced 4.9%, 1.9%, and 2.7% respectively. Constellation Brands is responding to their beat on Q3 earnings and upside guidance for FY 2016.

In commodities, gold has advanced 1.6% today at $1,108.80. Elsewhere in commodities, WTI crude looks to end its pit session down 2.1% at $33.27/bbl. Elsewhere, Treasuries remain near their highs with the 10-yr yield down one basis point at 2.16%.

2:00 pm:

[BRIEFING.COM] The major averages float above their session lows as the Dow Jones Industrial Average (-2.0%) leads the S&P 500 (-2.1%) and the Nasdaq (-2.7%).

On the bottom of the leaderboard, technology (-2.8%), financials (-2.5%), materials (-2.5%), and industrials (-2.4%). In front of the pack utilities (-0.7%), telecom services (-1.0%), consumer staples (-1.2%), and consumer discretionary (-1.8%).

Looking at the technology space, group large-cap Apple (AAPL 98.00, -2.70) is pacing the retreat in both the sector and the Nasdaq with a decline of 2.7%. Meanwhile, Alphabet (GOOGL 741.45, -17.88) slightly out performs, while Facebook (FB 98.30, -4.68) extends its losses to 4.6% thus far today. Elsewhere in technology, the high-beta chipmakers are experiencing the same broad based selling pressure as the rest of the sector, evidenced by the 2.8% loss in the PHLX Semiconductor so far .

In commodities, WTI crude has slid 1.7% today to $33.41/bbl. Elsewhere, gold has increased 1.4% today at $1,107.40.

Switching to Treasuries, the benchmark note trades near its high with its yield lower by one basis point at 2.16%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have sunk lower in recent action, establishing new session lows.

A look inside the Dow Jones Industrial Averages shows that Boeing (BA 133.80, +5.03), JPMorgan (JPM 60.53, -2.28), and General Electric (GE 29.26, -0.99) are underperforming amid broad market weakness. Boeing and GE are trading in tandem with industrial peers, one of today's worst performing sector

Conversely, Wal-Mart (WMT 64.74, +1.19) is the best-performing Dow component, again, as the mega-retailer continues to outperform in spite of broad market weakness. In 2016 so far, Wal-Mart is up 5.6% while the DJIA is down 4.8%.

1:10 pm:

[BRIEFING.COM] Equity indices sport moderate losses at midday after experiencing another morning gap down following defensive action overseas. The early morning retreat was underscored by continued concerns regarding global growth and deflationary pressure from another oil retreat overnight. The tech-heavy Nasdaq (-2.1%) trails the S&P 500 (-1.7%) and the Dow Jones Industrial Average (-1.6%). Including today's trade the benchmark index has surrendered 4.3% in the first four sessions of 2016.

Overnight, futures were heavily impacted by a sharp decline in China's Shanghai Composite (-7.0%) and CSI 300 (-6.9%). The CSI 300 declined 5.0% before trading was halted for 15 minutes and would cede the rest when trading was resumed. The circuit breaker provision was tripped by this secondary decline and trading was concluded 45 minutes after the opening bell. Oil was heavily pressured by this turn of affairs and retreated past the $34.00/bbl price level overnight. WTI crude was able to mount a rally heading into the open, which helped the broader market climb off its early low. This advance was short-circuited though and the commodity currently trades lower by 1.6% at $33.44/bbl. Similarly, the broader market is back near its worst level of the day.

On the leaderboard, financials (-2.2%), industrials (-2.2%), technology (-2.2%), and materials (-2.0%) trail while telecom services (-0.6%), utilities (-0.6%), consumer staples (-0.9%), and consumer discretionary (-1.0%) lead.

In the financial sector, large financial institutions and asset management companies have show relative weakness due to exposure to growth concerns involving China and the assets that will be affected by the historically low yuan. Large-cap component Citigroup (C 48.21, -1.91) and JPMorgan Chase (JPM 61.07, -1.74) have declined 2.8% and 1.6% respectively. Elsewhere, Blackrock (BLK 318.84, -11.32) has surrendered 3.4%

In the consumer staples space, Wal-mart (WMT 65.04, +1.49) has outperformed this session while fellow member Walgreens Boots Aliance (WBA 82.20, +2.57) has soared 3.2% after the company reported a bottom line beat and raised the low end of its guidance for FY 2016 to $4.30-4.55.

Meanwhile in Treasuries, the benchmark note trades near its session low with yield on the note higher by one basis point at 2.18%.

In economic data, participants received Initial claims for the week ending January 2nd which decreased by 10,000 to 277,000, this was above the Briefing.com consensus estimate of 270,000 but within the 250,000 to 300,000 range that has persisted since July 2014. The prior week's claims level was unrevised. Continuing claims for the week ending December 26 were 2.230 million, an increase of 25,000 from the previous week's revised level of 2.205 million (from 2.198 million).

12:30 pm:

[BRIEFING.COM] The stock market hovers below the midpoint of today's trading range as the Nasdaq (-1.6%) trails the S&P 500 (-1.3%) and the Dow Jones Industrial Average (-1.3%)

On the leaderboard, financials (-1.9%), materials (-1.7%), industrials (-1.7%), and technology (-1.6%) trail while telecom services (-0.4%), utilities (-0.6%), consumer discretionary (-0.6%), and consumer staples (-0.7%) lead.

The Dow Jones Transportation Average has retreated 2.1% so far today as the index responds to global growth concerns. Only one components is trading in the green at this juncture, with C.H. Robinson (CHRW 63.29, +0.13) posting a gain of 0.2% following a target price raise at RBC Capital Markets to $75 from $72. Elsewhere in the space, FedEx (FDX 136.35, -4.42) and UPS (UPS 93.37, -1.05) show losses of 3.1% and 1.1% respectively.

In commodities, WTI crude trades lower by 1.3% at $33.50/bbl as oil pulls back from its rally. Meanwhile, gold has continued its advance, currently trading higher by 1.4% at $1,107.40.

12:00 pm:

[BRIEFING.COM] The major indices have returned to the lower end of their trading ranges with the Dow Jones Industrial Average (-1.2%) pacing the S&P 500 (-1.2%) and ahead of the tech-heavy Nasdaq (-1.6%).

In the front of the pack, telecom services (-0.3%), utilities (-0.5%), consumer discretionary (-0.7%), and consumer staples (-0.7%) lead. On the flipside, materials (-1.8%), financials (-1.7%), industrials (-1.6%), and technology (-1.5%) trail.

In the financial sector, large-cap members Citigroup (C 48.84, -1.33) and JPMorgan Chase (JPM 61.50, -1.30) show relative weakness as the two have declined 2.7% and 2.2% respectively. Elsewhere in the space, fellow large-cap component Wells Fargo (WFC 51.03, -0.85) outperforms the sector after the company received an upgrade to Buy from Neutral at Citigroup.

Looking at commodities, WTI crude has returned to negative territory following its strong rally throughout the morning. Oil is lower by 0.8% at $33.70/bbl.

Meanwhile in Treasuries, the benchmark note trades on its low with yield on the note higher by one basis point at 2.18%.

11:30 am:

[BRIEFING.COM] The stock market drifts below the midpoint of today's trading range while the Nasdaq (-1.5%) remains behind the S&P 500 (-1.1%). The benchmark has surrendered 3.6% over the first four sessions of 2016.

In sectors, financials (-1.4%), industrials (-1.4%), materials (-1.3%), and health care (-1.3%) round out the leaderboard while energy (-0.1%), telecom services (-0.3%), utilities (-0.4%), and consumer discretionary (-0.6%) lead the pack.

Looking at the health care space, the group is being hurt by poor performances in biotechnology, evidenced by iShares Nasdaq Biotechnology ETF (IBB 312.84, -8.29) declining 2.6% thus far today. Elsewhere in the space, large-cap Pfizer (PFE 31.57, -0.04) trades near its flat line, outperforming the sector with a decline of 0.2%.

In commodities, oil fluttered near its morning high but WTI crude remains higher by 0.1% at $34.17/bbl

11:05 am:

[BRIEFING.COM] The major averages have moved to the middle of their trading ranges with the Nasdaq (-1.1%) trailing the S&P 500 (-0.8%) and the Dow Jones Industrial Average (-0.7%).

On the leaderboard, financials (-1.1%) has claimed the bottom spot in sectors followed by industrials (-1.1%), technology (-1.0%), materials (-1.0%) while energy (UNCH), telecom (-0.1%), utilities (-0.3%), and consumer staples (-0.4%) lead.

In the consumer discretionary space (-0.4%) , large-cap Amazon (AMZN 628.29, -4.36) outpaces the losses in the broader sector but has been recovering since the first hour of trading. The stock shows a loss of 0.7% thus far today. Meanwhile, fellow component Netflix (NFLX 118.60, +0.92) is adding on to its sizable advance from yesterday as it trades higher by 0.8%.

In commodities, WTI crude has rallied into positive territory with the commodity trading higher by 0.3% at $34.07/bbl

In Treasuries, the benchmark note trades on its low with yield higher by two basis points at 2.19%.

10:45 am: [BRIEFING.COM]

Commodities are seeing another day in the red on global market weakness
Commodities, as measured by the Bloomberg Commodity Index, are now trading 0.3% lower
WTI crude oil was a big story overnight after weakness extending, sending oil below the lowest point seen during the last recession
Feb WTI crude oil fell as low as $32.10/barrel overnight, easily falling below the 2009 low of $32.20/barrel. Feb crude oil has come back some in morning trade and is now -0.6% at $33.77/barrel
Feb natural gas futures spiked to new highs for the day after the EIA reported a draw of 113 bcf from U.S. storage, coming in above expectations
Feb nat gas is currently +4.5% at $2.37/MMBtu
Precious metals have been climbing higher in morning trade
Feb gold and Mar silver have been climbing higher too. Gold is +0.9% at $1101.30/oz and silver is +0.7% at $14.07/oz
Copper futures has been in the red all day.

10:05 am:

[BRIEFING.COM] The major indices hover above their opening lows while holding moderate losses. The tech-heavy Nasdaq (-1.7%) trails the S&P 500 (-1.3%) and the Dow Jones Industrial Average (-1.2%).

On the leaderboard all ten sectors remain in negative territory with technology (-1.8%), industrials (-1.6%), financials (-1.5%) and health care (-1.4%) leading to the downside.

In the consumer staples space (-0.6%), Wal-Mart (WMT 64.32, +0.85) outperforms with a gain of 1.5% thus far today. Elsewhere in retailers, Target (TGT 75.16, +1.08) is also having a strong start to the trading day with an advance of 1.5%.

In commodities, WTI crude has managed to maintain the $33.00/bbl level at $33.17/bbl. Meanwhile, gold trades higher by 1.1% at $1,104.40/ozt.

Meanwhile in Treasuries, the benchmark note is trading flat so far today with yield on the 10-yr unchanged at 2.17%

9:45 am:

[BRIEFING.COM] The major averages have all opened beneath their flat lines with the Nasdaq (-1.8%) pacing the retreat while the S&P 500 (-1.4%) and the Dow Jones Industrial Average (-1.4%) follow.

All ten sectors have opened in the red with technology (-1.9%), financials (-1.6%), health care (-1.5%), and industrials (-1.5%) leading the losses. On the flipside, telecom services (-0.4%), utilities (-0.5%), and consumer staples (-0.9%) lead.

In the technology space, sector large-caps Apple (AAPL 99.12, -1.59) and Microsoft (MSFT 52.60, -1.49) are showing respective losses of 1.6% and 2.8%.

Oil advanced into the open and has thus face been able to defend the $33.00/bbl price level. WTI currently trades lower by 1.7% at $33.41/bbl.

Switching to Treasuries, the benchmark note trades near its overnight low with yield lower by one basis point at 2.16%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -35.00. Nasdaq futures vs fair value: -96.00.

The stock market is on track for a sharply lower open as S&P 500 futures trade 35 points below fair value.

Futures on the benchmark index tumbled overnight in response to sharp declines in China's Shanghai Composite (-7.0%) and CSI 300 (-6.9%). The CSI 300 was halted when the index showed a loss of 5.0% only to return from the 15 minute period to slide to its lowest level. This triggered the circuit breaker provision for the second time this week. All in all, their trading day lasted a mere 45 minutes from their opening bell.

In commodities, WTI crude is trading above its low after it surrendered the $33.00/bbl price level overnight. Oil has since reclaimed that level but trades lower by 2.6% at $33.10/bbl. Elsewhere in commodities gold has seen an advance of 0.9% as investors seek safe havens. Gold is trading at $1,103.20/ozt.

Meanwhile on the corporate front, Finish Line (FINL 15.40, -3.10) has declined 16.8% after the company lowered its Q4 guidance and missed on earnings with light revenue.

In economic news, today's weekly initial jobless claims declined to 277,000 from last week's tally of 287,000 while the Briefing.com consensus expected a reading of 270,000. Continuing claims increased to 2.230 million from the prior week's revised count of 2.205 million.

Interestingly, in Treasuries, the benchmark note has moved off its high despite volatility in the equity market. Yield on the 10-yr is lower by one basis at 2.16%.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: -35.50. Nasdaq futures vs fair value: -100.50.

The S&P 500 futures trade 36 points below fair value.

It was a sea of red across Asia as all of the major indices ended the Thursday session in negative territory. The regional decline was highlighted by a 7.0% decline in China's Shanghai Composite and the CSI 300 with the drop unfolding just 45 minutes after the opening bell. That 45-minute period included a 15-minute halt, which took place once the CSI 300 index dropped 5.0%. When action resumed, the market careened lower once again, hitting its daily limit. The People's Bank of China was active once again, weakening the yuan against the dollar by 0.5%, which represented the largest move since August. The devaluation announcement was met with selling in other Asian indices while the dollar/yen pair retreated, sliding into the 117.60 area, where it currently trades.

In economic data:
Australia's November Building Approvals -12.7% month-over-month (expected -3.0%; previous 3.3%) while November Trade Deficit narrowed to AUD2.91 billion from AUD3.25 billion (expected deficit of AUD3.10 billion) as exports and imports declined 1.0% apiece
Singapore's Q4 GDP +5.7% quarter-over-quarter (expected 2.1%; last 1.9%)
Australia's November Building Approvals -12.7% month-over-month (expected -3.0%; previous 3.3%) while November Trade Deficit narrowed to AUD2.91 billion from AUD3.25 billion (expected deficit of AUD3.10 billion) as exports and imports declined 1.0% apiece
Singapore's Q4 GDP +5.7% quarter-over-quarter (expected 2.1%; last 1.9%)

---Equity Markets---

Japan's Nikkei registered its fourth consecutive decline, falling 2.3%. The widespread selling was paced by materials (-4.4%), energy (-4.1%), and industrial (-3.5%) sectors while most other groups did not fare that much better. The utilities sector (+0.1%) eked out a slim gain as participants sought relative safety in the countercyclical group. Dainippon Screen Manufacturing, Mitsui Engineering & Shipbuilding, Nissan Chemical Industries, Olympus, Isuzu, and Fuji Heavy Industries lost between 4.3% and 8.4%. On the upside, TEPCO gained 1.5%.
Hong Kong's Hang Seng tumbled 3.1%, falling to levels not seen since mid-2013 as all but two components registered losses. China Petroleum & Chemical, Petrochina, and CNOOC ended among the laggards with losses between 6.0% and 7.2% while gaming names also struggled notably. Sands China and Galaxy Entertainment lost 7.1% and 6.7%, respectively. On the flip side, Cheung Kong Property Holdings added 0.5% and Li & Fung advanced 0.4%.
China's Shanghai Composite cratered 7.0%, which caused the second early close so far this year. CITIC Securities plunged 8.9% while China Shipbuilding Industry Co and Chongqing Iron & Steel surrendered 9.8% and 8.8%, respectively.

Equity markets across Europe trade broadly lower in response to the overnight volatility in Asia, which saw the Shanghai Composite surrender 7.0% during the opening hour of action. Meanwhile, European indices gapped down at the start and they remain near their opening lows four hours into the trading day. For its part, the euro has climbed 0.8% against the dollar to 1.0860, likely benefitting from some carry trade unwinds.

Investors received a full slate of data:
Eurozone Retail PMI rose to 49.0 from 48.5 while December Business and Consumer Survey improved to 106.8 from 106.1 (expected 106.1). Separately, December Unemployment Rate ticked down to 10.5% from 10.6% (expected 10.7%) while November Retail Sales decreased -0.3% month-over-month (expected 0.2%; last -0.2%). On a year-over-year basis, retail sales increased 1.4% (expected 2.0%; previous 2.4%)
Germany's November Factory Orders +1.5% month-over-month (expected 0.1%; last 1.7%). Separately, November Retail Sales +0.2% month-over-month (expected 0.5%; previous -0.1%); +2.3% year-over-year (consensus 2.4%; last 2.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.5%; prior 0.0%); +9.5% year-over-year (consensus 9.0%; last 9.0%)
Italy's November Unemployment Rate ticked down to 11.3% from 11.5% (expected 11.5%)
Spain's Business Confidence edged up to 2.4 from -2.7
Eurozone Retail PMI rose to 49.0 from 48.5 while December Business and Consumer Survey improved to 106.8 from 106.1 (expected 106.1). Separately, December Unemployment Rate ticked down to 10.5% from 10.6% (expected 10.7%) while November Retail Sales decreased -0.3% month-over-month (expected 0.2%; last -0.2%). On a year-over-year basis, retail sales increased 1.4% (expected 2.0%; previous 2.4%)
Germany's November Factory Orders +1.5% month-over-month (expected 0.1%; last 1.7%). Separately, November Retail Sales +0.2% month-over-month (expected 0.5%; previous -0.1%); +2.3% year-over-year (consensus 2.4%; last 2.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.5%; prior 0.0%); +9.5% year-over-year (consensus 9.0%; last 9.0%)
Italy's November Unemployment Rate ticked down to 11.3% from 11.5% (expected 11.5%)
Spain's Business Confidence edged up to 2.4 from -2.7

---Equity Markets---

Germany's DAX has surrendered 3.1%, returning to early October levels. All 30 components trade deep in the red with exporters pacing the slide. BMW, Daimler, Continental, and Volkswagen are down between 4.6% and 5.1% while financials Commerzbank and Deutsche Bank show losses close to 4.5% apiece. Elsewhere, K+S shows the smallest decline, but the stock is still down 2.1%.
France's CAC has tumbled 2.5%, dropping to levels from late September amid broad weakness. Growth-sensitive names like ArcelorMittal, Saint Gobain, Solvay, and Valeo are down between 4.3% and 6.7%. Consumer names have held up a bit better than the index with L'Oreal, Louis Vuitton, and Essilor International down between 1.3% and 1.8%.
UK's FTSE is down 2.5% with all but one component trading in the red. Miners Anglo American, Glencore, BHP Billiton, and Antofagasta are down between 4.5% and 9.7% while another mining name-Randgold Resources-has bucked the trend, climbing 1.3%. Looking at the downside once again, financials have shown relative weakness with Old Mutual, Hargreaves Lansdown, and Prudential down between 4.3% and 5.3%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -41.50. Nasdaq futures vs fair value: -116.20.

The S&P 500 futures trade 42 points below fair value.

The latest weekly initial jobless claims count totaled 277,000 while the Briefing.com consensus expected a reading of 270,000. Today's tally was below the unrevised prior week count of 287,000. As for continuing claims, they increased to 2.230 million from the revised prior week's reading of 2.205 million (2.198 million).

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -40.20. Nasdaq futures vs fair value: -112.10.

U.S. equity futures trade sharply lower but above their pre-market lows with S&P 500 futures currently trading 40 points below fair value.

In Treasuries, the benchmark note currently trades below its high but its yield remains lower by two basis points at 2.18%.

On the economic front, the weekly Initial Claims Report (Briefing.com consensus 270k) and Continuing Claims (Briefing.com consensus 2215K) will both cross the wires at 8:30 ET.

In U.S. corporate news of note:

Walgreens Boots Alliance (WBA 79.75, +0.12):+0.2% following the company beating on Q1 earnings and raising low-end guidance for FY 2016 with EPS of $4.30-4.55
Finish Line (FINL 15.60, -2.90): -15.7% after the company released Q3 earnings which showed a miss on light revenue and lowered guidance for Q4 earnings

Reviewing overnight developments:

Asian markets ended their sessions sharply lower with China's Shanghai Composite -7.0%, Hong Kong's Hang Seng -3.1%, and Japan's Nikkei -2.3%.
In economic data:
Australia's November Building Approvals -12.7% month-over-month (expected -3.0%; previous 3.3%) while November Trade Deficit narrowed to AUD2.91 billion from AUD3.25 billion (expected deficit of AUD3.10 billion) as exports and imports declined 1.0% apiece
Singapore's Q4 GDP +5.7% quarter-over-quarter (expected 2.1%; last 1.9%)
In news:
The CSI 300 was halted after a 5.0% drop only to return after the 15-minute delay to extend its losses to 6.9%. This triggered its circuit breaker provision for the second time this week and ended its session a mere 45 minutes from the opening bell.
The People's Bank of China devalued the yuan further, weakening against the dollar by 0.5% which was the largest move since August
In economic data:
Australia's November Building Approvals -12.7% month-over-month (expected -3.0%; previous 3.3%) while November Trade Deficit narrowed to AUD2.91 billion from AUD3.25 billion (expected deficit of AUD3.10 billion) as exports and imports declined 1.0% apiece
Singapore's Q4 GDP +5.7% quarter-over-quarter (expected 2.1%; last 1.9%)
Australia's November Building Approvals -12.7% month-over-month (expected -3.0%; previous 3.3%) while November Trade Deficit narrowed to AUD2.91 billion from AUD3.25 billion (expected deficit of AUD3.10 billion) as exports and imports declined 1.0% apiece
Singapore's Q4 GDP +5.7% quarter-over-quarter (expected 2.1%; last 1.9%)
In news:
The CSI 300 was halted after a 5.0% drop only to return after the 15-minute delay to extend its losses to 6.9%. This triggered its circuit breaker provision for the second time this week and ended its session a mere 45 minutes from the opening bell.
The People's Bank of China devalued the yuan further, weakening against the dollar by 0.5% which was the largest move since August
The CSI 300 was halted after a 5.0% drop only to return after the 15-minute delay to extend its losses to 6.9%. This triggered its circuit breaker provision for the second time this week and ended its session a mere 45 minutes from the opening bell.
The People's Bank of China devalued the yuan further, weakening against the dollar by 0.5% which was the largest move since August

European indices trade lower following overnight volatility with Germany's DAX -3.3%, France's CAC -2.7%, and the U.K.'s -2.7%.
In economic data:
Eurozone Retail PMI rose to 49.0 from 48.5 while December Business and Consumer Survey improved to 106.8 from 106.1 (expected 106.1). Separately, December Unemployment Rate ticked down to 10.5% from 10.6% (expected 10.7%) while November Retail Sales decreased -0.3% month-over-month (expected 0.2%; last -0.2%). On a year-over-year basis, retail sales increased 1.4% (expected 2.0%; previous 2.4%)
Germany's November Factory Orders +1.5% month-over-month (expected 0.1%; last 1.7%). Separately, November Retail Sales +0.2% month-over-month (expected 0.5%; previous -0.1%); +2.3% year-over-year (consensus 2.4%; last 2.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.5%; prior 0.0%); +9.5% year-over-year (consensus 9.0%; last 9.0%)
Italy's November Unemployment Rate ticked down to 11.3% from 11.5% (expected 11.5%)
Spain's Business Confidence edged up to 2.4 from -2.7
In news:
The euro climbed 0.8% against the dollar at 1.0867 as it benefited from some carry trade pressure
In economic data:
Eurozone Retail PMI rose to 49.0 from 48.5 while December Business and Consumer Survey improved to 106.8 from 106.1 (expected 106.1). Separately, December Unemployment Rate ticked down to 10.5% from 10.6% (expected 10.7%) while November Retail Sales decreased -0.3% month-over-month (expected 0.2%; last -0.2%). On a year-over-year basis, retail sales increased 1.4% (expected 2.0%; previous 2.4%)
Germany's November Factory Orders +1.5% month-over-month (expected 0.1%; last 1.7%). Separately, November Retail Sales +0.2% month-over-month (expected 0.5%; previous -0.1%); +2.3% year-over-year (consensus 2.4%; last 2.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.5%; prior 0.0%); +9.5% year-over-year (consensus 9.0%; last 9.0%)
Italy's November Unemployment Rate ticked down to 11.3% from 11.5% (expected 11.5%)
Spain's Business Confidence edged up to 2.4 from -2.7
Eurozone Retail PMI rose to 49.0 from 48.5 while December Business and Consumer Survey improved to 106.8 from 106.1 (expected 106.1). Separately, December Unemployment Rate ticked down to 10.5% from 10.6% (expected 10.7%) while November Retail Sales decreased -0.3% month-over-month (expected 0.2%; last -0.2%). On a year-over-year basis, retail sales increased 1.4% (expected 2.0%; previous 2.4%)
Germany's November Factory Orders +1.5% month-over-month (expected 0.1%; last 1.7%). Separately, November Retail Sales +0.2% month-over-month (expected 0.5%; previous -0.1%); +2.3% year-over-year (consensus 2.4%; last 2.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.5%; prior 0.0%); +9.5% year-over-year (consensus 9.0%; last 9.0%)
Italy's November Unemployment Rate ticked down to 11.3% from 11.5% (expected 11.5%)
Spain's Business Confidence edged up to 2.4 from -2.7
In news:
The euro climbed 0.8% against the dollar at 1.0867 as it benefited from some carry trade pressure
The euro climbed 0.8% against the dollar at 1.0867 as it benefited from some carry trade pressure

6:16 am: [BRIEFING.COM] S&P futures vs fair value: -42.00. Nasdaq futures vs fair value: -121.00.

6:16 am: [BRIEFING.COM] Nikkei...17767...-424.00...-2.30%. Hang Seng...20333...-647.50...-3.10%.

6:16 am: [BRIEFING.COM] FTSE...5909.35...-164.00...-2.70%. DAX...9887.28...-326.70...-3.20%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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